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Our partners, Harvest Land Cooperative and its financial division AgQuest Financial, provides strength and resources that allow us to offer competitive rates and
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######## surrounding the article denotes it is a “press release”
and was not written by Leasing News nor information verified, but from the source noted. When an article is signed by the writer, it is considered a “by line.” It reflects the opinion and research of the writer. It is considered “bias” as it is the writer’s viewpoint.

Chase Industries---Embezzlement or Just Bad Business?
by Christopher Menkin

The story regarding Chase Industries, Grand Rapids, Michigan, closing its doors due to embezzlement may not be true. There is no police report filed, nor does the owner of the company intend to file such a report, he told Leasing News. Today he, and his sales crew, are now working for Ascentium Capital, Tom Depping’s new company, who evidently is gearing up to go after the healthcare industry, among others.

Reportedly the Chase Industries employee involved has filed an unemployment claim, and the owner of the company is contesting it, stating there is $900,000 unaccounted for, he claims. The employee involved did not return telephone calls from Leasing News.

Reports are the company office is dark, as well as this from a vendor owed money:

"We received a letter from their attorneys, Waldrop & Waldrop, that said Chase industries went under. To go ahead and sue, but that there is no money to fight a lawsuit or to pay anyone. After an internal audit, they discovered that an employee embezzled all their funds. They sold the lease in question to US Bancorp after telling them it was free and clear. We turned the whole thing over to our collection agency. So yes we still have a problem with them. But they are no longer in business that we know of."

Kathy Parker
Office Manager
Rocky Mountain Radiographics

It is standard for US Bancorp to require personal guarantees when they discount leases, meaning fund the lease to the lessor who issues the check. If it is not issued, the corporation and guarantor are liable. There may be up to $280,000 due to US Bancorp. Another reason why they have been backing out of the broker and discounting business. No one at US Bancorp would make a comment.

Reportedly an audit for 2008 and 2009 by an accounting firm was inaccurate, and money is owed to vendors, as wells as when funding reportedly four deals a day, money could be floated in a Ponzi type scheme to pay vendors and others, until business slowed down. Chase was reportedly funding four deals a day.

Several current and other ex-employees state business did slow down, and contest the volume. In addition, Leasing News has received many emails regarding the brokering of Allied Health Care Service Leases and the suit of a Fresno bank for the discounting of the leases being the reasons for the closure of the company. In reality, none of the brokers or funding sources were aware, including De Lage Landen who had a $1 million dollar lease with no personal guarantees, in Leasing News’ opinion, who broke the story and spent three months interviewing many of the banks, brokers, funders, and those involved, all who said they could not believe what we were telling them. In addition, none of the suits have resulted in any such rulings, according to Pacer.

The owner of Chase Industries told Leasing News he does not see the value in his corporation, now closed, in suing the party involved. He reports the party has little net worth, and whatever would be collected, would be owed to a corporation no longer in business. He further said the party has filed for unemployment and he is contesting it, stating the missing $900,000 as the reason to deny the claim.

Colorado
Award winning and strategic leasing sales professional with eleven years experience in Technology, Medical, Furniture, and Office Automation. Will consider positions with full benefits only. anderson_678@earthlink.net

Garfield, NJ
15 years experience small to large ticket sales exp. All types of equipment industries. Vendor & direct. Self motivated. Work with leasing company or broker.
Tony Lio tonylio@optonline.net

San Francisco Bay Area:
Business Development “Hunter” with transferable book of business in multiple segments: commercial construction, technology, fitness, etc. Years of managerial experience: can also be a “player/coach”.
E-mail: VdrPgmBizDev@aol.com

Next week will start a short vacation and Associate Publisher Rick Jones will take on these duties. I will be without my laptop. All my emails starting next week at Leasing News will be forwarded to him. I mentioned this in the September 1 edition, but for those who may have missed it, I want to bring it to your attention.

Rick has been with Leasing News going on two years and does all the web formatting and posting. He also is an editor, newsman, graphic designer and photographer; since August, 2008, Publisher, Rivals.com, covering Stanford Cardinal athletics, primarily football, basketball, baseball and football recruiting. His direct email here is: rick@leasingnews.org.

Gary DiLillo, President
216-658-5618 or gary@avptc.com

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Charles Schwartz Popular at Essex County Correction Facility
by Christopher Menkin

(Mug shot: Essex County Corrections Facility)

The $130 million Allied Health Care Service bankruptcy still continues with the latest regarding a complaint regarding transfers to Laurie Schwartz, Allied Health Care Service President Charles Schwartz wife, as well as an action regarding fraudulent conveyance of a transfer of real property. There also appear to be other controversies.

The handsome ex-marine, Charles Schwartz, reportedly in very good physical condition, remains popular in the Essex County Corrections Facility, awaiting sentencing now set for September 27, 2011 11:00am in Newark - Courtroom 5C before the Honorable Judge Susan D. Wigenton.

There are six court cases open. The two De Lage Landen Financial Services cases are closed, dismissed, including the one involving Donner Medical Marketing, the vendor on most of the Allied transactions. Another filed by the trustee of the Allied Bankruptcy against Bruce Donner, his wife Kathi L. Donner and Donner-HMR Medical, LLC and shows claims filed against Allied exceed $70 million and claims against Charles Schwartz exceed $63,000 (1). A trial is set for March 16, 2012 at 9:00am, Newark, New Jersey.

There has been no criminal action charged against Bruce or Kathi Donner. It is apparent from the court records Donner provided all the information the FBI needed to indict Charles Schwartz and apparently made an arrangement that he would not be indicted for providing this evidence and testimony, although without his involvement, the scam would never have moved forward.

I was requested I write about my conversations with Jeffrey Maricle of Global Funding LLC, Clearwater, Florida. He made the news a few years ago, going down the tubes owing people a lot of money. At the time I interviewed him in 2008, Maricle had closed the original business, and was involved in another, primarily a sales organization, and the complaints and situations regarding the keeping of "advance rentals" and deposits were making Florida newspaper headlines as well as radio and television news in the state.

Maricle, like many other leasing brokers, was collecting advance rentals or deposits in advance; illegal in Florida as well as other states. In addition it is not acceptable for a lessor, from an accounting standpoint, to put the money into the general account.

What is widely known is that it is illegal to not return money when a transaction is not completed or a document is not signed by both parties regarding any "fees earned". As important, in certain states, such as California, the collector of this money also needs to be licensed to engage in “capital leases” or “advancing money.”

When I interviewed him Maricle had made national news, primarily from truckers all over the United States. They complained they never got their truck, lost their contract, money sent in with the applications was not returned, and that he had “skipped town” owing a lot of money to a lot of people. In reality, he did close the business down and did start another leasing company under a different name, claiming he was an employee, and the authorities eventually caught up with him. He saw nothing wrong with this.

And yes, unfortunately, this is common in the leasing business to close down one company and start another. It is very easy. “News Channel 8 and tbo.com located at least 20 drivers in 12 states who complained Global took thousands of dollars in lease deposits and advance fees — in one case nearly $21,000 — and refused to return the money when the deals went sour.”

“The Florida attorney general is investigating more than 40 complaints against Global. Clearwater police have received seven complaints. And the Pinellas County Department of Justice & Consumer Services has three complaints on file from customers who say Global has refused to refund some or all of their money. http://www.leasingnews.org/archives/November%202008/11-06-08.htm#global

In Florida, “Brokers of a loan of money, a credit card, line of credit or related guarantee, enhancement or collateral of any nature” may not assess or collect an advance fee. Florida Statues, Chapter 687.14 (1992)”

The leasing application process involves first an application, often a deposit is required, and definitely when a proposal is made, or even a commitment letter, and sometimes an actual contract (before an underwriter has approved this). A deposit or advance rental is standard. While many states require an escrow account or prohibit except as part of an actual contract, this is ignored in the small ticket marketplace. It is the accepted practice to collect a check with a proposal or even an application.

In fact, the common practice is to put the check into your general checking account, not a separate account. Most involved will not work on an application without a check to insure the party is not going to go elsewhere or is not wasting the broker or lessors time. It most likely is common in most sales that the commitment requires not only a signature but a check. Leasing is unregulated regarding the common practice of putting the check into a company’s general bank account. It then becomes working capital. Again, this is the most common procedure in the small ticket marketplace.

There may be companies who put the check into a separate bank account, or don’t even cash the check, but that is very rare in the small ticket arena, especially among small leasing operations such as Global Funding. It is the common practice to put the check in their general checking account in the small ticket marketplace.

Collecting an advance fee, which a "deposit" qualifies, is not only illegal in Florida, it is also illegal in Arkansas, Connecticut, Florida, Idaho, Iowa, Louisiana, Mississippi, Missouri, Nebraska, New Jersey, New York, North Dakota, to name a few. http://leasingnews.org/archives/Mar2011/3_02.htm#statute

As stated earlier, there are also accounting and tax issues, such as a "security deposit" is not recorded as "income" and should be held in a separate account, and is not taxed until "earned." Since the advance rentals will go to the funder or be utilized in the discount, it is considered income by the broker or lessor as it is part of the “commission.”

To get into what pushed Maricle into closing down Global Funding, you first have to understand how the leasing industry works. Not how it should work, but the common practice, the way it really is. Maricle was in the small ticket side, writing “capital leases,” mostly under $100,000, mostly under $50,000, mostly trucks and trailers for independent drivers and some smaller companies, and other equipment, primarily construction as new companies were being established left and right to meet the real estate demand.

The best way for an outsider to understand how it works is to compare it to how an insurance agent works. An insurance agent, is either working for a company or representing one company, (he is an employee or an independent contract) and he brings his prospect's paperwork in to present to the insurance underwriter for approval. Some companies have more than one insurance underwriter as their source. The point is he brings it to his “parent” company.

An independent insurance agent may be a one man company or a network of individuals who has the ability to take an application to more than one insurance company underwriter. While both may earn a commission, one works for one company, and the other works for no company, but finds a company who will accept the insurance application and qualify the customer.

This was what Maricle was doing, but instead of insurance companies, he was going to various leasing companies who provided the underwriting of the transaction.

In the “middle” to “large” leasing ticket marketplace, the holder of the advance rental or deposit will put the check into an “escrow account” or a separate money market account. The lessee is most often more sophisticated, has a larger office, and most often is larger than a small business. While there is no actual standard of what a small business is, the Small Business Administration defines it up to 500 employees, as well as has categories of what defines a small business for their purpose of providing a loan.

The majority of the small ticket leases are for businesses under 50 employees, perhaps under 25 employees, with many under ten employees, and the dollar amount is often below $50,000, and often below $25,000. Maricle was dealing primarily with independent truck drivers and independent contractors who hired sub-contract employees. He was definitely in the real small ticket marketplace.

Perhaps the most important definition is that all of these leases are primarily “capital leases” or “finance leases” and not true leases that were arranged by Jeffrey Maricle. None of the brokered or discounted leases that are not full recourse with a “fair market value” or leases sold off to others would qualify as a “true lease,” also known as an “operating lease,” ---- therefore under all the federal and state’s definitions, these are “capital leases,” really loans with a debtor and creditor being called lessor and lessee. It is then more regulated with regards to usury and other contract requirements, as well as licenses.

In reality, most of the leases being written today are “capital leases.” 91% of the transactions by the leasing industry in 2010 were “capital leases,” according to the Equipment Leasing and Finance Foundation.

They have bargain pruchase options, as well as are “discounted” or sold to others where the lessor does not take the depreciation.

It should also be noted that many of the companies use “capital” in their name or “funding” to give the impression they provide the money. From their viewpoint, they are the starting process and participate in providing the funding therefore, they are entitled to market as “capital providers” and even “funders.” In reality, they are brokers or basically sales organizations. They attract a customer and then seek a source who will underwrite the customer’s request.

A leasing broker is a person who uses the underwriter’s documents. He may do some prequalification before submitting to the underwriter. He is always non-recourse, meaning once the underwriter or funder accepts the transaction, he is out of the equation. He is not responsible for a default or any delinquency or insurance or any other problem. He may share in an "annuity," meaning a residual or additional payments, but he is no longer involved. There is an issue of "representations and warranties," that if he lied or left out pertinent information, he may have liabilities. There may also be other legal requirements the person may be subject to, but he is "non-recourse." He does not issue the purchase order or commit to the seller of equipment.

A discounter can be a broker, a lessor, or even a funder. A lessor is usually more than one person, prequalifies the transaction, may be non-recourse or recourse, many be involved in follow-up with the lessee, but generally takes the lessee to the underwriter or funder. The leases are on his generic documents and his company issues the purchase order to the seller of equipment. In addition, the lessor may have a warehouse line of credit where they actually fund the transaction, pay the vendors, and then collect a portfolio that they "discount" to a funder in a larger dollar amount for a better rate of return, and may be recourse or non-recourse, depending on the quality of the portfolio or what can be negotiated.

The point being that the lessor may actually fund the transaction, but their goal is to build a portfolio and sell it off. They are actually brokers, but may become recourse with agreements of loss reserve, substituting new leases, or actually paying for a default. The main point is the underwriter funds the transaction, usually paying the lessor, called discounting the lease, and most often the lessor then pays the seller of equipment. There are arrangements where the underwriter prefers to pay the seller of the equipment direct, as well as the sales tax.

A funder may often sell off their portfolio with the purpose of improving their yield, or creating more cash to leverage their sales. Banks sell to other banks or to group and the best example of this has been the subprime mortgage resale of mortgages. The same happens in personal property financing.

Jeffrey Maricle was both a broker and a lessor. He brought transactions to a funder/underwriter using their documents or generic documents that allowed him to take to underwriters who accepted his generic documents. As a broker, the underwriter paid the seller direct. As a lessor, most often, Maricle paid the seller of the equipment from the funds provided by the underwriter.

It is common in the industry for a lessor to say they are a "decision maker" or even a direct lender as they make the decision of who will accept the transaction using generic documents the underwriter will accept or their underwriter documents.

In reality, he was not the “underwriter” of the lease or actual provider of the money to pay for the equipment, and was himself, a small independent businessman. In an interview, he told Leasing News”… he first started out of his house with his wife, grew to 4, then 6, then 12 employees and at the 46th Street location had 18 employees and at one time was receiving 83 applications a week.”
http://www.leasingnews.org/archives/November%202008/11-12-08.htm#town

This is how he presented himself, a “Global” worldwide company and a “funding” company. To his belief, he had developed a "template" that not only took the basic credit information down, but by the answers to the questions regarding the equipment, the applicants source of business, work history, and other facts he had observed, he could decide from this template who would be the underwriter for the transaction. His first goal was who would approve it, and the second, where would he make the best commission for the underwriter who would accept the transaction; often speed in getting the approval or meeting the customers needs or requirements would enter in the decision.

But with this template, he could generate business for those who came to him direct, who were referred to him, from dealers, and direct sales calls. He put them into "tiers," as he called it, perhaps best understood as credit scoring of who would accept the specific credit score or situation, meaning a five year old used truck from a private party or a new truck from a well established dealer.

As his business grew, so did he need more people to process it, and he found his niche, unfortunately making a number one mistake, finding one source that was taking 60% and more of his business: SunBridge Capital. Instead of many sources, he was down to two or three, with one main source.

The market seemed to change on him quite rapidly, first with SunBridge delaying payments to vendors, then when the dealer of the truck wanting to get paid, problems with the trucks not being serviced correctly for re-sale, then approvals that never happened, finally SunBridge pushed into bankruptcy, not funding the approvals, catching Maricle with few other places to go. (Note: The principal of SunBridge after not paying banks, dealers, vendors, as well as affecting his employees and lessees, is back in business again:
http://leasingnews.org/archives/May2011/5_11.htm#weber_back

Jeffrey Maricle did not see the writing on the wall, and began living on the advance rentals collected with the applications, thinking he could continue to get the leases approved, pay off the vendors who had not be paid, although they had delivered trucks, and he became more dependent on the advance rentals, not cutting expenses quickly enough, and approving in house more transactions he thought he could take to an underwriter to fund, thinking he could outrun the money that he was not returning. Like the SunBridge that caused his downfall, he also closed his corporation down and walked away from it all.

It is acceptable practice in the leasing industry to break the law and go back into leasing business. The Equipment Leasing and Finance Association has accepted such principals back in their association as members, as well as banks, brokers, lessors, and vendors do business with them.

It is as acceptable by many to collect advance rentals in states where it is illegal, as well as putting the check in a general banking account and utilize as working capital. It is the standard practice in the small ticket market place.

It is also acceptable to not be licensed or do business with those who are not licensed.

Many continue these practices because they simply have not been caught.

Question: I am taking a new position – how do I give notice to my current employer?

Answer: First, NEVER burn bridges (many of us have learned this from past experience!) – give notice in the PROPER manner.

I would suggest developing a formal resignation letter at least two weeks prior to terminating your present employment. Many resignation letters state your last day of employment and a willingness to assist in the transition process (sometimes including training a new hire to take over your duties). You may want to include a personal note thanking the employer and explaining your reasoning for your departure.

Whatever the circumstances, make sure you phrase your resignation letter in a positive way. This does not give you free reign to lay out your grievances … not appropriate! Don’t do it.

Your past employer may be called upon to provide a reference for you in the future. AND you never know if you might work with your manager (s) in the future!

Business plans and budgets should be guides to your business efforts and need to be grounded in reality. When times are tough nothing is more important than a strong business plan. The principal parts of your business plan, and their sequence, vary from leasing company to leasing company because of their capabilities like cost of money, size of transaction, number of employees, etc. But as a general rule, your plan should answer the following questions:

1. Company objective, direction and capabilities.
2. Where are we now, and why? (situational analysis)
3. Where do we want to go (are we doing the right things now to reach our intended customer base?)
4. Where should we be headed in light of the economy?
5. How do we get there? (development of action programs to achieve objectives)
6. What resources are required and how much will it cost to achieve our goals (budget preparation)
7. How will we know if we are on course or not? (monitoring performance and control
8.
What if unexpected events occur or key assumptions prove invalid? (contingency plans)

Please keep in mind that this outline is only a general guideline. You may have good reason to add to it, omit some sections, or rearrange their sequence, depending on your reading of where your opportunities are and what needs to be done to realize them.

I think one of the main purposes of a business plan is to stop, look at what you are doing, and reevaluate the future based on your company capabilities. Hard economic times may shift, your market will change, and to continue down the same plan is certainly the wrong course of action.

Just as the Defensive Coordinator and Offensive Coordinator change their tactics in a football game, you need to reevaluate your moves too, at least every three months to stay on top of the changing economy.

Some companies try to reinvent themselves and head into markets that they are convinced will provide great opportunities, only to find tough going and limited business. Therefore, besides just drawing up the plan you need to investigate thoroughly any major change in markets or direction. The plan is a chance to “think” about what you can accomplish and look for markets that your needs fit into. If your plan is just throwing darts at a phone book in today’s economic time’s you better start telling your people to begin looking for work.

Management has a responsibility to direct the business activities, not to just complain and try to drive people harder.

I am always reminded that President Jimmy Carter was the hardest working president that we ever had and also the least effective. Hard work is important, but working smart accomplishes much more.

I would check out your local trade show facilities and attend the show and listen to the distributors to see what markets are holding their own and where to look for Lessees. There are still lots of markets where equipment is being sold and leasing or financing is hard to come by. Make your capabilities known and do some homework before approaching new markets or territories.

Once again you need to revisit the plan every so often (not over three months) to reevaluate the correctness of your direction. Also if you choose to enter new markets make sure your sales staff is prepared to understand that market or perhaps hire people familiar with the that industry. Just because a market appears attractive you can spend a lot of effort, money, and time developing it. Therefore do not go after more than one new market at a time.

Evaluating your business plan from an objective view should be a constant activity. The strongest advantage American businessmen have is the ability to recognize mistakes and make adjustments as needed instead of waiting for next year to change direction. Commercial equipment leasing has to be flexible and adaptable to changes to survive.

Mr. Terry Winders, CLP, has been a teacher, consultant, expert witness for the leasing industry for thirty-five years and can be reached at leaseconsulting@msn.com or 502-649-0448

10+ Years Exp. Key Management
or
lending role in leasing industry
Click here for more information

www.northlandcapital.com
Our partners, Harvest Land Cooperative and its financial division AgQuest Financial, provides strength and resources that allow us to offer competitive rates and
specialized service that comes from a small-company atmosphere.

Chris Enbom, CEO of Allegiant Partners, Inc., who is also the president of the National Equipment Finance Association will be in Minneapolis at the NEFA Funding Symposium this Sunday, but it won't stop him from watching at 10:30pm, NBC, the premier of his brother's TV show "Free Agents."

From the NBC Website:Based on the witty, cult U.K. series of the same name, "Free Agents" is a crooked, romantic comedy from creator John Enbom ("Party Down") and Emmy Award-winning director Todd Holland ("Malcolm in the Middle") that explores the trials and tribulations of finding love and companionship - the second time around.

Hank Azaria ("The Simpsons," "Huff") stars as newly divorced Alex, who is missing his kids and trying to keep himself together. Alex's co-worker Helen (Kathryn Hahn, "Hung") thinks she has it together, but she drinks too much in order to cope with her fiancé’s untimely death. It's no surprise then when these two overworked public relations executives share an ill-fated night of passion and are forced to cope with the awkward aftermath.

Thus begins the journey of two lost and emotionally damaged souls in search of happiness. Joining the cause is an array of co-workers who are both helpful and meddling at the same time. Stephen (Anthony Head, "Merlin," "Buffy the Vampire Slayer") is the office boss who is concerned about Alex's emotional stability, yet needs him to focus on his work; Dan (Mo Mandel, "Love Bites," "Modern Family") is a bachelor in search of a wingman; and Gregg (Al Madrigal, "Wizards of Waverly Place," "The Daily Show") is the nerdy, lone husband of the group. Despite their valiant and well-intentioned efforts, they are failing in their attempts to help Alex get back into the dating scene. In addition, Emma (Natasha Leggero, "Ugly Americans") is Alex's spitfire assistant, who is always ready with a quick comeback, and Joe Lo Truglio ("Backwash," "Mad Love") is the building security guard who is always ready to share a little advice. Together, this motley, and often dysfunctional, group takes on a new level of damage control.

"Free Agents" is a production of Universal Media Studios in association with Dark Toy and Big Talk Productions. Enbom is executive producer/creator along with executive producer/director Holland. Ira Ungerleider and Karey Burke ("Miss Guided") executive produce, along with Big Talk Productions' Kenton Allen ("Free Agents," BBC Network) and Nira Park, as well as Chris Niel.

The eight branches of The First National Bank of Florida, Milton, Florida were closed with CharterBank, West Point, Georgia, to assume all of the deposits. The bank became the 71st to fail this year, and the eleventh to fail in Florida this year. It was down to 80 full time employees the end of June, 2011 from a high of 99 full time employees, December, 2007. Founded November 1, 1932 at the height of the Great Depression, the bank changed its name in 2001 from First National Bank of Homestead to First National Bank of Florida. When it closed it had three offices in Pensacola, two in Pace, and one in Destin, Milton, Navaree. At the end, the Tier 1 risk-based capital ratio was 3.48%.

A 2007 press release announced the acquiring the land for an office "across the street from the New Homestead Hospital site, currently under construction...1st National Bank of South Florida has been doing business since 1932 and is a full service, community oriented, Florida bank. 1st National Bank is the second oldest bank in Miami-Dade County and is based in Homestead, with branches in Kendall, Palmetto Bay, Princeton, Homestead Air Reserve Base, and a loan office located in Islamorada."

The bank began its expansion the last good year they had, as in 2008 the bank lost money, had $43.4 million in non-current loans compared to the previous year of $12.9 with charge offs of $5.9 million in construction and land development. It never turned a profit again, and in March, 2009 was issued a Cease and Desist Order by the Office of the Comptroller of the Currency for violation of various banking rules and regulations, as well as unsafe and unsound banking practices. But it was too late as the non-current loans got larger, and the charge off in 2009 was $11.8 million, 2010 $9.2 million, and the half year of 2011: $7.1 million.

As of June 30, 2011, The First National Bank of Florida had approximately $296.8 million in total assets and $280.1 million in total deposits. The FDIC and CharterBank entered into a loss-share transaction on $216.3 million of The First National Bank of Florida's assets. CharterBank will share in the losses on the asset pools covered under the loss-share agreement.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $46.9 million

Average lease terms remain low by historic standards for both office and industrial space. The average industrial lease term year-to-date has dropped to a decade low of 44.0 months. Third-party logistics firms have been most active recently, and they prefer shorter-term leases that co-terminate with their logistics contracts, often three years.

The average office lease term of 56.3 months is the second-lowest level of the decade, slightly above the recession year of 2009 and tied with the recession year of 2001. The trend toward shorter-term office leases may be driven by the preferences of both tenants and landlords. Businesses have been reluctant to hire and to tap into their cash reserves, and shorter lease terms fit with this conservative mindset.

For their part, landlords aren’t anxious to sign long-term leases until rents start to firm, which hasn’t happened yet in most markets.

Now is a good time for tenants to sign longer-term leases if they feel confident in their revenues and if they can convince their landlords.

(Leasing News provides this ad as a trade for investigations
and background information provided by John Kenny)

---------------

Ira Romoff Walk4 Hearing

From Ira Romoff, long time leasing officer:

I have accepted the challenge of participating in the Garden State, NJ Walk4Hearing walkathon.

Arlene began using hearing aids in the early 1970's. After our children were born with normal hearing, we were so thankful that we decided to volunteer on behalf of people with hearing loss. It became Arlene's life's work.

Little did we know that her hearing would gradually decrease over the years and eventually leave her profoundly deaf. Miraculously, 13 years ago a cochlear implant enabled her to hear and communicate. Now, a second cochlear implant allows her to enjoy conversation, music and the sounds of nature even more. She is truly bionic! Her second book, Listening Closely: A Journey to Bilateral Hearing (go to ArleneRomoff.com for more information), has just been published, and tracks the miracle that allows my totally deaf wife to hear!

The mission of the Walk4Hearing effort is to increase awareness about the causes and consequences of hearing loss, the invisible disability - and to raise funds to provide information and support for people with hearing loss. I am asking you to help by supporting my fundraising efforts with a donation.

Your tax-deductible gift will make a difference in the lives of many! It is faster and easier than ever to support this great cause - you can make your donation online by simply clicking on the 'DONATE' sign above the goal thermometer. If you would prefer, you can also send your tax-deductible contribution to me at the address listed below.

Any amount, great or small, helps in the fight. I greatly appreciate your support and will keep you posted on my progress.

More photos and video:
http://www.austindog.org/adoption/available-dogs/427-charlotte.html

Hi! My name is Charlotte and I'm a nice Lab Mix. I'm a pretty girl even if I say so myself! I and my sister were left on a county road and fortunately a Good Samaritan spotted me and my sister and brought us to the Gonzales Animal Shelter. Our little bodies were covered by gazillions of fleas and we were very underweight but the shelter helped us a lot and now we're now in the care of Austin Dog Rescue and in amazing foster homes!

I'm a really happy and playful puppy, I like to follow my foster brother everywhere! I do really good around people and other dogs, I might be a little shy at first but as soon as I get to know you I'll be willing to play all day long...or just for a while 'cause I also like to take long naps after playing. :-)

I'm learning good manners everyday, I'm a good listener and a perfect companion - Sweet as I can possible be, love to get cozy and ask for belly rubs. guess the happiest moment of my day is when I hear the cookie-jar opening, oh my gosh I love goodies!

I am spayed, current on vaccinations, micro chipped and I even come with 30 days free insurance + I'm getting really popular around here, everyone says I'm a cutie, so hurry up and come and see me, I'll be waiting.

1609 -Henry Hudson discovers Hudson Riverhttp://www.wikipedia.com/wiki/Hudson_Bayhttp://www.schoonerman.com/halfmoon.htmhttp://www.exploid.de/kks/tim/canada_history.html
1771--- Pioneer Methodist bishop Francis Asbury, 26, on his maiden voyage to America, wrote in his journal: 'Whither am I going? To the New World. What to do? To gain honor? No, if I know my own heart. To get money? No, I am going to live to God, and to bring others to do so.'
1776 -Nathan Hale leaves Harlem Heights Camp (127th St) in New York City for spy mission When Washington asked his troops who would volunteer to go into enemy camp, only one person stepped forward: Nathan Hale.
1777-The founding of the first Mission Santa Clara de Assis by Padre Thomas Peña, under the direction of Padre Junípero Serra. The first two were built too close to the Guadalupe River, which over flooded, the third was destroyed by an earthquake and the fourth site is now part of the University of Santa Clara. In 1851, during the height of the Gold Rush era, the Mission Santa Clara was given to the Jesuits who incorporated it into the University of Santa Clara. Rebuilt in 1779 and 1781, and restored after a flood in 1784, an earthquake in 1818, and a fire in 1926, the tower of Santa Clara still contains an original bell brought to that mission from Spain.http://memory.loc.gov/ammem/today/jan12.htmlhttp://www.smfc.k12.ca.us/class/parkside/mitchell/natasha.htmlhttp://memory.loc.gov/cgi-bin/ampage?collId=hhphoto&fileName=ca/ca0900/ca0986/photos/
browse.db&action=browse&recNum=0&title2=Mission%20Santa%20Clara%20de%20Asis,%20
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CA&displayType=1&itemLink=r?ammem/hh:@field(DOCID+@lit(CA0986 ))http://santacruz.about.com/library/weekly/aa091898.htmhttp://www.indiancanyon.org/index.html
1786 - Despite his failed efforts to suppress the American Revolution, Lord Cornwallis was appointed governor general of India.
1808- The Holy Bible was translated into English by Charles Thomson and printed in Philadelphia, PA by Jane Aitken. “The Holy Bible, containing the old and new covenant, commonly called the Old and New Testament; translated from the Greek.” It was copyrighted in the District of Pennsylvania by the translator, Charles Thomson, who had been secretary to the Continental Congress.
1814- Battle of North Point fought near Baltimore during War of 1812 9,000 troops British troops land at North Point . They had taken Washington, DC, and wanted to also burn Baltimore, which they called “the nest of pirates”. Fort McHenry stood in their way. Major General Robert Ross, riding ahead of his troops with his personal platoon, thinking this was a “walk in the park,” rode right into General John Stricker, 3,200 men, was only two miles away with his six cannon in place across Long log Lane (North Point Road) waiting for the British, who unlike the Capital, knew they were coming and were prepared to fight. Shots were fired by both sides. Two Americans, Dan Wells and Henry McComas, were instantly killed. They are credited with shooting General Ross. He was 48 years old. (The spot where Ross was shot is marked today by a monument erected to honor Aquilla Randall as the first American killed in the battle. It's still there today, at Old North Point Road near Battle Grove Road.)The death of General Ross was a devastating blow to the British. The also had lost their surprise. Although they outnumbered the Americans, the battle went against them and they retreated. After resting, they turned direction and ran into over 10,000 men and over 60 cannon behind well-made breastworks, ready and waiting to repel any attack. After two short rallies, they took to retreat again. The British were unable to take Fort McHenry (Francis Scott Key wrote the “Star Spangled Banner.”)
1829-Birthday of Charles Dudly Warner, who should be best remembered for his editorial in the Hartord Courant, Aug 24, 1897 “ Everybody talks about the weather, but nobody dues anything about it.” This American newsman was a good friend of Mark Twain, who is often mistakenly attributed for the “saying.” Died at Hartford, CT. Oct. 20,1900.
1843- The first minstrel troupe in New York City was formed by Daniel Decatur “Dan” Emmett, who later wrote the song “Dixie.” His quartet of blackface singers and musicians played in several Bowery theaters and established many of the basic routines followed by later minstrel shows.
1851- Birth of Francis E. Clark, American Congregationalist clergyman. In 1881, at age 29, Clark organized the world's first church "youth fellowship" in Portland, Maine. Clark's original name for this Christian group concept was "The Young People's Society of Christian Endeavor."
1866- the first burlesque show was opened at Niblo's Garden, New York City. The musical show was produced by Barras and William Wheatley and featured 100 scantily clad young women playing a troupe of dancing fairies. It ran for an unprecedented 16 months, closing on January 4, 1868, after playing 475 performances and grossing $1.3 million. It was in four acts and titled “The Black Crook.”
1880- Birthday of H.L.Mencken. American newspaperman, lexicographer and critic, “the Sage of Baltimore” was born at Baltimore, MD, and died there Jan 29, 1956. “If, after I depart this vale,” he wrote in 1921 (Epitaph, Smart Set), “you ever remember me and have thought to please my ghost, forgive some sinner and wink your eye at some homely girl..” My mother told me sat on his lap when I was very little, and quite the contrary, he was a very likeable person.
1889-American aeronaut of French extraction, born in New York, NY, about 1857, achieved world fame as a parachutist. After his first public performance (Philadelphia, PA, 1887), he toured European cities where his parachute jumps attracted wide attention. Credited with 238 successful jumps. He was last seen this day as he jumped from a balloon over Tallinn, Estonia, and perished in the Bay of Reval.
1913- James Cleveland (Jesse) Owens, American athlete, winner of four gold medals at the 1936 Olympic Games at Berlin, Germany, was born at Oakville, AL. Owens set 11 world records in track and field. During one track meet, at Ann Arbor, Ml, Owens, repre­senting Ohio State University, broke five world records May 23, 1935, and tied a sixth in the space of 45 minutes. Died at Tuc­son, AZ, Mar 31, 1980.
1916—Trumpet player Cat Anderson birthday
1920-Birthday of James “Lucky” Carmichael, Harrodsburg, KY.
1922- The House of Bishops of the U.S. Protestant Episcopal Church voted 36-27 to delete the word "obey" from the vows of their denomination's official marriage service.
1924-The Wolverines with Bix Biederbecke opened at the Cinderella Ballroom, New York City. “Variety newspaper dubs them a “torrid unit.”
1928 - Actress Katharine Hepburn made her stage debut. The play was titled "The Czarina". It would be four years before the ‘First Lady of the American Screen' would indeed, make her first film, "A Bill of Divorcement".
1931-Birthdday of singer George Jones, born Saratoga, TX.
1935-Duke Ellington records “Reminiscing in Tempo” on four 10” sides.
1935-Birthday of drummer Paul Humphrey, Detroit, MI.
1935-Artie Shaw's new band opens at the Palace Hotel.
1935 -- Birthday of Richard Hunt, born Chicago, Illinois. African American, A leading sculptor, collected by the National Museum of American Art, the Whitney Museum of American Art, the Metropolitan Museum of Art, & the Museum of the Twentieth Century in Vienna.http://www.thehistorymakers.com/biography/biography.asp?bioindex=68&category=artMakershttp://www.h-net.org/~rhunt/begin.html
1940 - Johnny Long's orchestra recorded the classic "A Shanty in Old Shanty Town" for Decca Records.
1943 -- Birthday of Michael Ondaatje, born Colombo, Ceylon (Sri Lanka). Canadian novelist/poet who blends myth, history, jazz, & memoirs to create his musical prose & poetry, His 1970 pastiche, The Collected Works of Billy the Kid: Left-Handed Poems drew on his fascination with the American west, & his 1992 novel, The English Patient, got him a popular audience & an award-winning movie.http://www.english.emory.edu/Bahri/Ondaat.htmlhttp://www.cariboo.bc.ca/ae/engml/FRIEDMAN/ondaatje.htm
1944---Birthday of singer Barry White, Galveston, TX
1944--TOMINAC, JOHN J . Medal of Honor
Rank and organization: First Lieutenant, U.S. Army, Company I, 15th Infantry, 3d Infantry Division. Place and date: Saulx de Vesoul, France, 12 September 1944. Entered service at: Conemaugh, Pa. Birth: Conemaugh, Pa. G.O. No.: 20, 29 March 1945. Citation: For conspicuous gallantry and intrepidity at risk of life above and beyond the call of duty on 12 September 1944, in an attack on Saulx de Vesoul, France 1st Lt. Tominac charged alone over 50 yards of exposed terrain onto an enemy roadblock to dispatch a 3-man crew of German machine gunners with a single burst from his Thompson machinegun after smashing the enemy outpost, he led 1 of his squads in the annihilation of a second hostile group defended by mortar, machinegun automatic pistol, rifle and grenade fire, killing about 30 of the enemy. Reaching the suburbs of the town, he advanced 50 yards ahead of his men to reconnoiter a third enemy position which commanded the road with a 77-mm. SP gun supported by infantry elements. The SP gun opened fire on his supporting tank, setting it afire with a direct hit. A fragment from the same shell painfully wounded 1st Lt. Tominac in the shoulder, knocking him to the ground. As the crew abandoned the M-4 tank, which was rolling down hill toward the enemy, 1st Lt. Tominac picked himself up and jumped onto the hull of the burning vehicle. Despite withering enemy machinegun, mortar, pistol, and sniper fire, which was ricocheting off the hull and turret of the M-4, 1st Lt. Tominac climbed to the turret and gripped the 50-caliber antiaircraft machinegun. Plainly silhouetted against the sky, painfully wounded, and with the tank burning beneath his feet, he directed bursts of machinegun fire on the roadblock, the SP gun, and the supporting German infantrymen, and forced the enemy to withdraw from his prepared position. Jumping off the tank before it exploded, 1st Lt. Tominac refused evacuation despite his painful wound. Calling upon a sergeant to extract the shell fragments from his shoulder with a pocketknife, he continued to direct the assault, led his squad in a hand grenade attack against a fortified position occupied by 32 of the enemy armed with machineguns, machine pistols, and rifles, and compelled them to surrender. His outstanding heroism and exemplary leadership resulted in the destruction of 4 successive enemy defensive positions, surrender of a vital sector of the city Saulx de Vesoul, and the death or capture of at least 60 of the enemy.
1951--*SUDUT, JEROME A. Medal of Honor
Rank and organization: Second Lieutenant, U.S. Army, Company B, 27th Infantry Regiment, 25th Infantry Division. Place and date: Near Kumhwa, Korea, 12 September 1951. Entered service at: Wisconsin. Birth: Wausau, Wis. G.O. No.: 31, 21 March 1952. Citation: 2d Lt. Sudut distinguished himself by conspicuous gallantry above and beyond the call of duty in action against the enemy. His platoon, attacking heavily fortified and strategically located hostile emplacements, had been stopped by intense fire from a large bunker containing several firing posts. Armed with submachinegun, pistol, and grenades, 2d Lt. Sudut charged the emplacement alone through vicious hostile fire, killing 3 of the occupants and dispersing the remainder. Painfully wounded, he returned to reorganize his platoon, refused evacuation and led his men in a renewed attack. The enemy had returned to the bunker by means of connecting trenches from other emplacements and the platoon was again halted by devastating fire. Accompanied by an automatic-rifleman 2d Lt. Sudut again charged into close-range fire to eliminate the position. When the rifleman was wounded, 2d Lt. Sudut seized his weapon and continued alone, killing 3 of the 4 remaining occupants. Though mortally wounded and his ammunition exhausted, he jumped into the emplacement and killed the remaining enemy soldier with his trench knife. His single-handed assaults so inspired his comrades that they continued the attack and drove the enemy from the hill, securing the objective. 2d Lt. Sudut's consummate fighting spirit, outstanding leadership, and gallant self-sacrifice are in keeping with the finest traditions of the infantry and the U.S. Army.
1953-- - 24-year-old Jacqueline Lee Bouvier wed the 36-year-old U.S. Senator from Massachusetts, future U.S. President, John Fitzgerald Kennedy.http://www.jhu.edu/~jhumag/1101web/camelot.html
1954---Top Hits
Sh-Boom - The Crew Cuts
Hey There - Rosemary Clooney
The High and the Mighty - Victor Young
I Don't Hurt Anymore - Hank Snow
1954- “Lassie” premiered on TV. This long-running series was originally about a boy and his courageous and intelligent dog, Lassie. Although he would often say, “Come here, girl,” Lassie was played by more than six different dogs through the series, all male). For the first few seasons, Lassie lived on the Miller farm. The family included Jeff (Tommy Rettig), his wid­owed mother Ellen (Jan Clayton) and George Cleveland as Gramps. Throughout the years there were many format and cast changes, as Lassie was exchanged from one family to another in order to have a variety of new perils and escapades. Other fea­tured performers included Cloris Leachman, June Lockhart and Larry Wilcox. The show was last seen September 12, 1971.
1958-Integrated circuit was invented independently by Jack Kilby of Texas Instruments, Dallas, TX, and Robert Noyce of Fairchild Semiconductor, Mountain View, CA. This day Kilby tested a working integrated circuit. Between March and June of 1959, Noyce improved on Kilby's cruder device by designing the first reliable, mass-producible integrated circuit. Noyce was awarded the patent after a 10-year lawsuit between the two men.
1960--Hurricane Donna made landfall on central Long Island and then tracked across New England. Wind gusts reached 140 mph at the Blue Hills Observatory in Milton, MA and 130 at Block Island, RI. MacDowell Dam in New Hampshire recorded 7.25 inches of rain. Although a record tide of 6.1 feet occurred at the Battery in New York City, elsewhere fortunately the storm did not make landfall at the high tides its effects were minimized. This was the first hurricane to affect every point along the east coast from Key West, FL to Caribou, ME
1962---Top Hits
Sheila - Tommy Roe
You Don't Know Me - Ray Charles
Ramblin' Rose - Nat King Cole
Devil Woman - Marty Robbins
1962- Tom Cheney of the Washington Senators set a major league record for most strikeouts in a game when he fanned 21 Baltimore Orioles in a 16-ining game that he won 2-1.
1963-“Leave It to Beaver,” which had debuted in 1957, airs its last episode. The typical 1950s "wholesome family" comedy presented the lives of the Cleaver family from the perspective of seven-year-old Theodore "Beaver" Cleaver. The clan included parents June and Ward, and older brother Wally. The show enjoyed much popularity in reruns and a revival in the 1980s as The New Leave It to Beaver.
1964-First football game at New York Shea Stadium, the Jets defeated Denver 30-6 .
1964-Ralph Boston of the US, sets then long jump record at 27' 4«".
1964--Manfred Mann's "Do Wah Diddy Diddy" enters Billboard's Hot 100, where it will reach number one just a few weeks later.
1966- “The Monkees” premiered on TV.. Based on a rock and roll group that was supposed to be an American version of the Beatles, this half-hour show featured a blend of comedy and music. Some 400 aspiring actors had auditioned for the Columbia television series by producer Don Kirschner. Davy Jones, a former English horse racing jockey; Michael Nesmith, a session guitarist; Peter Tork of the Phoenix Singers; and Micky Dolenz, who had appeared in the TV series "Circus Boy" were picked to be America's answer to The Beatles. The four were picked to become the fabricated music group -- not because they could sing, act or play musical instruments -- but because they looked the parts. Dolenz and Jones were actors, Tork and Nesmith had some musical experience. The Monkees were the first, made-for-TV, rock group. Ironically -- or maybe not -- "The Monkees" TV show won an Emmy for Outstanding Comedy Series of 1967. Their first songs on the show were lip-synched but were immensely popular; later the Monkees insisted on writing and performing their own music. A Monkees album, Headquarters, and Monkees tours were very successful. In 1986, the Monkees, except for Nesmith, were reunited for a 20th Anniversary tour and the show was broadcast in reruns on MTV. The Monkees sans Nesmith also toured in 1996 for the 30th reunion celebration
1966 - The Beatles received a gold record this day for "Yellow Submarine".
1970---Top Hits
War - Edwin Starr
Ain't No Mountain High Enough - Diana Ross
In the Summertime - Mungo Jerry
All for the Love of Sunshine - Hank Williams, Jr.
1970 - James Taylor's first single, "Fire and Rain", was released. Taylor scored 14 hits on the music charts in the 1970s and 1980s.
1972- “Maude” premiered. Bea Arthur's character, Maude Findlay, was first introduced as Edith Bunker's cousin on ‘All in the Family.” She was a loud, opinionated liberal, living with her fourth husband Walter (Bill Macy). Other characters on the show were her divorced daugh­ter by a previous marriage, Carol Trainer (Adrienne Barbeau), Conrad Bain as Dr. Arthur Harmon, Rue McClanahan as Arthur's wife Vivian (Baa Arthur and McClanahan would later star in another sitcom, ‘The Golden Girls”), Esther Rolle as Florida Evans, Maude's maid and John Amos as her husband, Henry (in 1974 they left the series to star in “Good Times”). This was one of the first shows to tackle the controversial issue of abortion.
1973 - Horse race jockey Bill Shoemaker rode his 100th winner -- in a $100,000 stakes race. Shoemaker was aboard Such a Rush in the Del Mar Futurity at Del Mar, CA.
1974-In Boston, Massachusetts, opposition to court-ordered school "busing" turns violent on the opening day of classes. School buses carrying African American children were pelted with eggs, bricks, and bottles, and police in combat gear fought to control angry white protesters besieging the schools. U.S. District Judge Arthur Garrity ordered the busing of African American students to predominantly white schools and white students to black schools in an effort to integrate Boston's geographically segregated public schools. In his June 1974 ruling in Morgan v. Hennigan, Garrity stated that Boston's de facto school segregation discriminated against black children. The beginning of forced busing on September 12 was met with massive protests, particularly in South Boston, the city's main Irish- Catholic neighborhood. Protests continued unabated for months, and many parents, white and black, kept their children at home. In October, the National Guard was mobilized to enforce the federal desegregation order.
1977--two batches of thunderstorms, one in the morning and the next in the evening dumped a combined total of 12-16 inches of rain around Kansas City, MO. Major flooding occurred and 25 were killed
1977-- Azie Taylor Morton takes office as first African-American woman Treasurer of the United States.http://www.soulciti.com/morton/
1978---Top Hits
Boogie Oogie Oogie - A Taste of Honey
Three Times a Lady - Commodores
Hot Blooded - Foreigner
I've Always Been Crazy - Waylon Jennings
1979 - Carl Yastrzemski of the Boston Red Sox became the first American League player to get 3,000 career hits -- and 400 career home runs -- as the Red Sox downed the New York Yankees 9-2 at Fenway Park in Boston.
1979 --Hurricane Frederick made landfall on the Alabama coast. Winds gusted to 145 mph on Dauphin Island with a storm surge of 12 feet. Winds gusted to hurricane force at Meridian, MS even though the city is 140 miles inland. 5 people died and damage was $2.3 billion, most on record to that time
1981- At the age of 42, Gaylord Perry signs a one-year contract with the Braves.
1984- The Chicago Bulls signed their No. 1 draft choice, Michael Jordan, a guard from the University of North Carolina. Jordan was the No. 3 choice overall behind Akeem ( later Hakeem) Olajuwan, taken by Houston, and Sam Bowie, selected by Portland. He signed a seven year contract.
1986---Top Hits
Venus - Bananarama
Take My Breath Away - Berlin
Dancing on the Ceiling - Lionel Richie
Desperado Love - Conway Twitty
1988--- Hurricane Gilbert tore through the Caribbean . On the 12th, it cut through Jamaica with Kingston recording 116 mph sustained winds and gust to 140. 45 people were killed and damage topped $2 billion. Despite 7000 foot mountains, Gilbert didn't weaken at all and after exiting Jamaica, underwent incredible deepening - 72 Mb in 24 hours to 888 Mb (26.22 inches). Sustained winds were recorded at 185 mph with gusts over 200 mph in the Caribbean west of Jamaica. On the 16th the storm came ashore near Las Pesca, Mexico about 125 miles south of Brownsville. Mexico was hard hit with 202 killed and 60,000 homes destroyed. Total damage reached 2 billion dollars. In the U.S. the damage of $50 million was mostly from tornadoes spun off by Gilbert, two in San Antonio and one at Kelly AFB which did $28 million dollars in damage.
1988-The Phoenix Cardinals play their first NFL regular-season game, losing to the Dallas Cowboys, 17-14. The good news: ended the team's 15-year playoff drought and achieved their first postseason victory since 1947.http://phoenix.about.com/library/weekly/aacardinalsa.htm
1992- the first African-American woman to fly in space was Dr. Mae Carol Jemison, a physician who also held degrees in chemical engineering and African-American studies. Jemison, who left private practice to join NASA in 1987, made her first space flight as a payload mission specialist on the Space Shuttle Endeavor. She performed experiments on space motion sickness and bone cell loss in the space environment. Ironically, on the same flight were the first husband and wife to fly in space together, Mission Specialist N. Jan Davis, an engineer, and Air Force Lieutenant Colonel Mark C. Lee, who served as crew members. Although NASA has a rule forbidding married couples to take part in the same mission, the rule was waived for Davis and Lee because they had no children and both and trained as astronauts for several years before they were married.
1998 - Sammy Sosa of the Chicago Cubs became the fourth player in major-league baseball history to reach 60 homers in a single season.
1999 -Setting an all-time record, Mark McGwire's 70th HR ball is purchased at an auction by an anonymous buyer for $3 million surpassing a $126,500 which bought a Babe Ruth home run ball.